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Resource Allocation and the Regulated Firm: Comment

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  • A.B. Atkinson
  • L. Waverman

Abstract

This comment presents an analysis of the effect of regulation on the sales-maximizing firm, and shows that the models used in earlier works have been incorrectly specified. It is demonstrated that under relatively weak conditions, regulation via a "fair" rate of return constraint has no influence on the behavior of the firm, and that any tendency to under-or overcapitalization would be present even if there were no regulation.

Suggested Citation

  • A.B. Atkinson & L. Waverman, 1973. "Resource Allocation and the Regulated Firm: Comment," Bell Journal of Economics, The RAND Corporation, vol. 4(1), pages 283-287, Spring.
    • Handle: RePEc:rje:bellje:v:4:y:1973:i:spring:p:283-287
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    Cited by:

    1. Yves Simon & Henri Tezenas du Montcel, 1977. "Théorie de la firme et réforme de l'entreprise," Revue Économique, Programme National Persée, vol. 28(3), pages 321-351.
    2. Mirucki, Jean, 1980. "Vérification des conditions d'efficacité dans la production chez Bell Canada [Checking the conditions of efficient production in Bell Canada]," MPRA Paper 30147, University Library of Munich, Germany, revised Jun 1980.
    3. Mirucki, Jean, 1980. "Comportement de l'entreprise réglementée: étude de l'hypothèse Averch-Johnson [Behavior of the Regulated Firm: A Study of the Averch-Johnson Hypothesis]," MPRA Paper 27669, University Library of Munich, Germany, revised 1982.

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